January 07, 2026
Michaela Althouse/PhillyVoice
The Shops at Liberty Place, the mall between the One and Two Liberty Place skyscrapers, has been listed for sale.
The Shops at Liberty Place, the ground-floor mall between the One and Two Liberty Place skyscrapers, was listed for sale Tuesday by the realty firm Jones Lang LaSalle Americas.
The mall covers 147,201 square feet of space along Chestnut Street, between 16th and 17th streets. The listing did not include an asking price.
The Shops at Liberty Place is at 78% occupancy. On average, tenants have five years left on their leases. Current shops include Juan Pistolas, Saxby's, Victoria's Secret and OrangeTheory. In 2024, Puttshack, a miniature golf course and restaurant, took over 26,000 square feet of space. There is also a food court with a Chipotle, Subway and Auntie Anne's.
The Chestnut Street retail corridor is a hub for foot traffic. More than 14,000 vehicles and 19,200 pedestrians pass by the Shops every day, JLL said in the listing.
The mall and One Liberty Place are owned by Chicago-based Metropolis, which purchased the property for $250 million in 1999 — $220 million for the office space and $30 million for the retail space, WHYY reported. Two Liberty Place is owned by Coretrust Capital Partners.
Tom Dempsey, head of asset management for Metropolis, told the Philadelphia Business Journal that the mall and the office space have different strategies for operating, adding that the sale of the Shops can help support its long-term success.
"A potential sale would allow new ownership to build on that momentum with fresh capital and ideas, while enabling Metropolis to focus on our core investment priorities, particularly our office portfolio in Philadelphia, Chicago, Dallas, Houston and San Francisco," Dempsey told the Business Journal.
